DHT (NYSE:DHT) Stock Price Down 3.7% on Analyst Downgrade

DHT Holdings, Inc. (NYSE:DHT) fell 3.7% on Wednesday after Stifel Nicolaus lowered their price target on the stock from $13.00 to $11.00. Stifel Nicolaus currently has a hold rating on the stock. DHT traded as low as $10.36 and last traded at $10.47. 597,248 shares changed hands during mid-day trading, a decline of 68% from the average session volume of 1,842,532 shares. The stock had previously closed at $10.87.

DHT has been the subject of several other reports. BTIG Research started coverage on shares of DHT in a report on Tuesday, October 15th. They issued a “buy” rating and a $16.00 target price for the company. StockNews.com cut shares of DHT from a “hold” rating to a “sell” rating in a research report on Monday, September 9th. Finally, Fearnley Fonds upgraded DHT to a “strong-buy” rating in a report on Friday, September 27th. One investment analyst has rated the stock with a sell rating, one has given a hold rating, three have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, DHT currently has an average rating of “Moderate Buy” and an average price target of $14.50.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the company. Quarry LP increased its holdings in DHT by 2,494.6% in the second quarter. Quarry LP now owns 3,866 shares of the shipping company’s stock worth $45,000 after buying an additional 3,717 shares during the last quarter. Headlands Technologies LLC bought a new position in shares of DHT during the 1st quarter valued at $51,000. Summit Securities Group LLC acquired a new stake in shares of DHT in the 2nd quarter valued at $78,000. Point72 Hong Kong Ltd bought a new stake in DHT in the second quarter worth $80,000. Finally, Blue Trust Inc. boosted its holdings in DHT by 41,626.3% in the second quarter. Blue Trust Inc. now owns 7,928 shares of the shipping company’s stock worth $91,000 after purchasing an additional 7,909 shares in the last quarter. 58.53% of the stock is owned by institutional investors and hedge funds.

DHT Price Performance

The company’s 50-day simple moving average is $11.06 and its 200 day simple moving average is $11.39. The stock has a market capitalization of $1.68 billion, a price-to-earnings ratio of 9.91 and a beta of -0.36. The company has a quick ratio of 2.33, a current ratio of 2.87 and a debt-to-equity ratio of 0.36.

DHT (NYSE:DHT) last issued its quarterly earnings data on Monday, August 12th. The shipping company reported $0.27 earnings per share for the quarter, missing analysts’ consensus estimates of $0.28 by ($0.01). The company had revenue of $103.70 million during the quarter, compared to the consensus estimate of $102.75 million. DHT had a net margin of 27.45% and a return on equity of 15.19%. The firm’s revenue was down 8.2% on a year-over-year basis. During the same period in the previous year, the business posted $0.35 earnings per share. Equities research analysts forecast that DHT Holdings, Inc. will post 1.14 EPS for the current year.

DHT Cuts Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, August 30th. Investors of record on Friday, August 23rd were issued a dividend of $0.27 per share. This represents a $1.08 annualized dividend and a dividend yield of 10.38%. The ex-dividend date of this dividend was Friday, August 23rd. DHT’s dividend payout ratio is currently 102.86%.

About DHT

DHT Holdings, Inc, through its subsidiaries, owns and operates crude oil tankers primarily in Monaco, Singapore, and Norway. The company also offers technical management services. As of March 15, 2024, it had a fleet of 24 very large crude carriers. The company was incorporated in 2005 and is headquartered in Hamilton, Bermuda.